Jeddah : The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) signed a Memorandum of Understanding (MoU) with Eximgarant of Belarus (Eximgarant), the Export Credit Agency (ECA) of the Republic of Belarus.
The signed MoU promotes collaborative efforts to support trade and investment between the Republic of Belarus and ICIEC member countries, encouraging joint export credit insurance provisions and other forms of cooperation such as technical assistance and capacity building.
This is the fifth MoU ICIEC has signed this year and the fourth with a European ECA. These partnerships facilitate flexible yet strong agreements for risk sharing in the form of reinsurance or co-insurance, supporting both parties to increase their risk appetite for trade transactions and investments.
“Through close collaboration with Eximgarant and other ECAs, both institutions are able to provide additional insurance capacity,” ICIEC CEO, Mr. Oussama Kaissi, says. “Through the expanded trade coverage supported by these partnerships, firms in member countries can access new markets, grow in existing markets, and in the process generate employment and economic growth. This new partnership with Eximgarant is helping to give a much-needed economic boost to ICIEC member countries, assisting them in recovering from the effects of the pandemic”.
-Ends-
About ICIEC
The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC) is a member of the Islamic Development Bank (IsDB) Group. ICIEC was established in 1994 to strengthen the economic relations between member countries of the OIC. ICIEC’s vision is to be recognized as the preferred enabler of trade and investment for sustainable economic development in Member Countries. Its mission is to facilitate trade and investment between member countries and the world through the provision of Shariah compliant risk mitigation tools and financial solutions.
For media inquiries, please contact:
Rania Binhimd
Rbinhimd@isdb.org
© Press Release 2020
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
